SunCoke Energy, Inc. Announces Pricing of Initial Public Offering by SunCoke Energy Partners, L.P.
SunCoke Energy, Inc. (NYSE: SXC) (SunCoke) announced today that its
wholly owned subsidiary, SunCoke Energy Partners, L.P., a Delaware
limited partnership (the Partnership) (NYSE: SXCP), has priced its
initial public offering (IPO) of 13,500,000 common units representing
limited partner interests at $19.00 per common unit. The common units
are expected to begin trading on the New York Stock Exchange under the
ticker symbol “SXCP” on January 18, 2013. The offering is expected to
close on January 24, 2013, subject to customary closing conditions. The
Partnership has granted the underwriters a 30-day option to purchase up
to an additional 2,025,000 common units to cover over-allotments, if any.
Upon conclusion of the offering, the public ownership will represent a
43.0 percent limited partner interest in the Partnership, or a 49.4
percent limited partner interest if the underwriters exercise their
option to purchase additional common units in full. SunCoke, through
certain of its subsidiaries, will hold a 2.0 percent general partner
interest and the remaining limited partner interest in the Partnership.
SunCoke expects that a portion of the proceeds from the offering will be
distributed to it as a reimbursement for expenditures made by SunCoke
during the two-year period prior to the offering for the expansion and
improvement of the Haverhill and Middletown cokemaking facilities.
Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities
(USA) LLC and J.P. Morgan Securities LLC are acting as joint
book-running managers for the offering. Evercore Group L.L.C., Goldman,
Sachs & Co., RBC Capital Markets, LLC and UBS Securities are acting as
co-managers for the offering.
The offering of these securities is being made only by means of a
prospectus filed with the U.S. Securities and Exchange Commission (SEC).
A written prospectus, which meets the requirements of Section 10 of the
Securities Act of 1933, may be obtained from:
Barclays
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BofA Merrill Lynch
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c/o Broadridge Financial Solutions
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222 Broadway, 7thFloor
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1155 Long Island Avenue
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New York, NY 10038
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Edgewood, NY 11717
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Attention: Prospectus Department
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Telephone: 1-888-603-5847
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dg.prospectus_requests@baml.com
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barclaysprospectus@broadridge.com
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Citigroup
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Credit Suisse
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Brooklyn Army Terminal Financial
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Attention: Prospectus Department
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Attention: Prospectus Dept.
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One Madison Avenue
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140 58th Street, 8th Floor, Brooklyn, NY 11220
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New York, NY 10010
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Telephone: 1-800-831-9146
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Telephone: 1-800-221-1037
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batprospectusdept@citi.com
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J.P. Morgan Securities LLC
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via Broadridge Financial Solutions
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1155 Long Island Avenue Edgewood, NY 11717
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Telephone: 1-866-803-9204
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The registration statement may be obtained free of charge at the SEC's
website at www.sec.gov
under the Partnership’s name, "SunCoke Energy Partners, L.P."
IMPORTANT INFORMATION
A registration statement relating to these securities has been filed
with, and declared effective by, the SEC. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
ABOUT SUNCOKE ENERGY INC.
SunCoke Energy, Inc. is the largest independent producer of
metallurgical coke in the Americas, with more than 50 years of
experience supplying coke to the integrated steel industry. Our
advanced, heat recovery cokemaking process produces high-quality coke
for use in steelmaking, captures waste heat for derivative energy resale
and meets or exceeds environmental standards. Our cokemaking facilities
are located in Virginia, Indiana, Ohio, Illinois and Vitoria, Brazil,
and our coal mining operations, which have more than 114 million tons of
proven and probable reserves, are located in Virginia and West Virginia.
To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.
FORWARD-LOOKING STATEMENTS
Some of the statements included in this press release constitute
“forward looking statements” (as defined in Section 27A of the
Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended). Such forward-looking statements are
based on management’s beliefs and assumptions and on information
currently available. You should not put undue reliance on any
forward-looking statements. Forward-looking statements include all
statements that are not historical facts and may be identified by the
use of forward looking terminology such as the words “believe,”
“expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,”
“predict,” “potential,” “continue,” “may,” “will,” “should” or the
negative of these terms or similar expressions. Forward-looking
statements involve risks, uncertainties and assumptions.
Risks and uncertainties that could cause actual results to differ
materially from those expressed in forward-looking statements include
economic, business, competitive and/or regulatory factors affecting the
Company’s business, as well as uncertainties related to the outcomes of
pending or future litigation, legislation, or regulatory actions.
Unpredictable or unknown factors not discussed in this release also
could have material adverse effects on forward-looking statements.
In accordance with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, SunCoke has included in its filings with
the Securities and Exchange Commission cautionary language identifying
important factors (but not necessarily all the important factors) that
could cause actual results to differ materially from those expressed in
any forward-looking statement made by SunCoke. For more information
concerning these factors, see SunCoke’s Securities and Exchange
Commission filings. All forward-looking statements included in this
press release are expressly qualified in their entirety by such
cautionary statements. SunCoke does not have any intention or obligation
to update any forward-looking statement (or its associated cautionary
language), whether as a result of new information or future events,
after the date of this press release, except as required by applicable
law.